Which filing regulation allows an insurance company to use rates without prior approval?

The correct answer pertains to a filing regulation that allows insurance companies to implement rates without seeking prior approval from regulatory authorities. This is typically known as the "Use and File" approach. Under this method, insurers can start using rates immediately after filing them with the regulatory body, which will review them post-implementation.

The intention behind this regulation is to enable greater flexibility and efficiency in the insurance market, allowing companies to respond swiftly to changing market conditions without the delays that can come with needing prior approval. This is particularly beneficial for businesses looking to stay competitive and align their pricing strategies with real-time data and trends.

In contrast, other options like "Need prior approval" or "File and use" imply a level of preemptive assessment by regulators, which does not provide the operational agility that "Use and File" mandates. Similarly, "File and no approval" lacks clarity since it doesn't correspond to a recognized regulatory practice, leading to confusion regarding compliance requirements for insurance companies.